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Smithfield’s Win on California Income Tax Treatment Cemented

A California trial court is standing by its decision that Smithfield Packaged Meats Corp. qualifies as an agricultural business permitted to use a special formula to calculate what portion of its income is taxable in the state.

A California trial court is standing by its decision that Smithfield Packaged Meats Corp. qualifies as an agricultural business permitted to use a special formula to calculate what portion of its income is taxable in the state.
The California Superio… [370 chars]

Source: Bloomberg Tax News | Published: 2026-04-29T17:32:15Z

Credit: Bloomberg Tax News

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